Anti-globalization protests in Prague (some 20,000 protesters) turn violent during the IMF and World Bank summits.
The anti-globalization movement or counter-globalization movement, is a social movement critical of economic globalization. The movement is also commonly referred to as the global justice movement, alter-globalization movement, anti-globalist movement, anti-corporate globalization movement, or movement against neoliberal globalization. There are many definitions of anti-globalization.Participants base their criticisms on a number of related ideas. What is shared is that participants oppose large, multinational corporations having unregulated political power, exercised through trade agreements and deregulated financial markets. Specifically, corporations are accused of seeking to maximize profit at the expense of work safety conditions and standards, labour hiring and compensation standards, environmental conservation principles, and the integrity of national legislative authority, independence and sovereignty. As of January 2012, some commentators have characterized changes in the global economy as "turbo-capitalism" (Edward Luttwak), "market fundamentalism" (George Soros), "casino capitalism" (Susan Strange), and as "McWorld" (Benjamin Barber).